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MADRID — Spain's King Juan Carlos has presided over a reception ceremony for Mexican President Enrique Pena Nieto in one of the monarch's last official acts before his announced abdication.

Pena Nieto was also welcomed by Queen Sofia and Spanish Prime Minister Mariano Rajoy at the Pardo Palace in Madrid on Monday. Nieto was accompanied by his wife Angelica Rivera de Pena and several government ministers for the three-day visit which aims to improve business ties between the two countries.